Conch Group to issue short-term bills, China

The Anhui Conch Group said it plans to issue CNY1.5bn (US$241m) in unsecured bills with a maturity of 365 days on the inter-bank market next week.

The company said in a statement that this batch of bills will be issued on the 10 April 2013 at face value and the coupon rate determined during the the process of bookbuilding, China Knowledge Press reports.

Agricultural Bank of China has been hired as book runner and lead underwriter for the offering and China Construction Bank Co will be joint lead undewriter.

This will be the first short-term bills issued by the group this year.